Archive: March 30, 2023

New Zealand’s Prime Minister Scholarship for Asia students showcase contemporized collection at a fashion event in collaboration with Pearl Academy

HE David Pine,

March 30, 2023, Education New Zealand administers the Prime Minister Scholarship for Asia, a unique scholarship program that enables a rich exchange of languages, cultures, skills, and opportunities. The program highlights the New Zealand government’s commitment to India and its education relationship, particularly to help grow strong connections between young New Zealanders and Indians.

As part of the joint effort, a cohort of 15 students from Whitecliffe School of Fashion & Sustainability, also the recipients of Prime Minister’s Scholarships for Asia, visited India and worked with the students of Pearl Academy and artisans of Kala Raksha for five weeks.

Collaborating with the NGO Kala Raksha from Bhuj, Kutch – 30 students went on a trip and stayed with the artisans for over two weeks. The larger group was distilled into groups and assigned to make each garment. The embroidery work was done collaboratively with an indigenous group and students.

The students showcased their work through an innovative fashion event titled NO:MAAD: ISH on Tuesday 28th March at the New Zealand High Commission, New Delhi. Speaking about the event, HE David Pine, New Zealand High Commission to India, said, “New Zealand and India hold strong education ties and the Prime Minister’s Scholarship for Asia symbolizes New Zealand government’s commitment to further strengthen bilateral ties between both countries.”

“We are thrilled to have 15 Prime Minister’s Scholarship recipients from Whitecliffe College visit India and take this opportunity to collaborate with Pearl Academy students in fashion and sustainability. We believe such initiatives welcome diverse perspectives, develop students’ ability to think creatively and collaboratively, and widen the avenues of knowledge around different cultures.” he further added.

Lenovo Launches New Storage Solutions; Jumps to #1 in IDC Global Storage Rankings

Lenovo

March 30, 2023 – India. – Lenovo (HKSE: 992) (ADR: LNVGY) announced new solutions to enable customers to better solve rapidly growing data management needs, coupled with new milestones in its enterprise storage momentum. For the first time, Lenovo is ranked as the #1 storage provider in the “Price Bands 1-4 (storage <$25K) external storage” category, which represents 61% of the total market for storage device units sold globally1.

Lenovo also rose to the #5 storage provider position globally in all segments, according to IDC Worldwide Quarterly Enterprise Storage Systems Tracker, 4Q 22.

Coinciding with this accomplishment, the company has launched its new enterprise-class storage solutions that deliver major power efficiency increases and data center space savings to help support sustainability goals. The new ThinkSystem storage systems help safeguard critical data with advanced ransomware protection.

The company reported record-breaking growth across its infrastructure solutions business:

  • Lenovo’s storage portfolio records 138% YTY revenue increase
  • Lenovo sees over 100% YoY growth in the All-Flash Array (AFA) category and 22% growth in midrange storage
  • Lenovo TruScale Infrastructure as-a-Service grows more than 600% YoY Year-to-Date

“The rise to the #1 storage provider rank in the price bands <$25k category globally and the #5 storage provider in all segments worldwide is a testament to our product performance and customer centricity, said Sumir Bhatia, President – of Asia Pacific, Lenovo ISG. “With data being the new currency, CIOs must become smart bankers in how they manage, leverage, and protect data while meeting sustainability goals. Our new enterprise-class storage solutions offer more power efficiency and data center space savings, while our ThinkSystem storage systems provide advanced ransomware protection”.

“India has been witnessing a rapid growth of data, fueled by the proliferation of new technologies such as 5G, Internet of Things (IoT) devices, and cloud computing. It is predicted that the country will become a global hub for data centers with a projected growth of USD 8 billion by 2026. This explosion of data has led to a pressing need for enterprises to adopt better data management solutions,” said Amit Luthra, Managing Director – India, Lenovo ISG. “Businesses are leveraging Lenovo’s comprehensive range of data management and storage solutions to address complex challenges and stay competitive in the digital landscape. Our remarkable achievements in the enterprise storage segment with an extensive data management portfolio are a direct result of the success our customers find with Lenovo as the right technology partner. We remain dedicated to providing our customers with cutting-edge solutions that cater to their business requirements.”

New Storage Innovation

Lenovo offers a comprehensive portfolio of enterprise-class data management solutions from entry to high end, including enterprise storage arrays and infrastructure, Hyperconverged Infrastructure (HCI), Software Defined Storage (SDS), TruScale Infinite Storage as-a-service, and vertically focused workload solutions working with ISV application software partners.

Leveraging in-house design and manufacturing capabilities to drive innovation, Lenovo is releasing new storage solutions to protect against threats to customers’ critical data and help support sustainability goals by more effectively powering today’s demanding data management and analytics needs. The new solutions include:

  • D4390 High-Density JBOD for Software Defined Storage: Delivers power and space savings to help support sustainability goals:

Up to 62% less power consumption as compared to the previous generation3
Lower OPEX – up to 60% reduction in data center space
Higher overall performance – 24G SAS connectivity increases data throughput

  • ThinkSystem DM Systems 9.12 Software Release: Delivers advanced innovations that reduce threats from cyber-attacks and increase data management efficiency:
  • New automated ransomware protection

Autonomous ransomware protection

One-click defense against malicious files

Tamper-proof snapshots prevent ransomware deletion

  • Hardened Zero Trust architecture that increases defense from insider threats

Advanced multifactor authentication

Immutable, tamperproof logging

Enhanced auditing

  • 33% storage efficiency improvement over the previous generation with new 4 to 1 efficiency

Lowers CAPEX by storing more data with less storage

  • Recently announced high-performance data management solutions with WEKA, selling across 160 markets globally. The solutions accelerate AI and analytics for high-performance workloads by speeding time to insights while reducing cost.
  • TruScale Infrastructure as a Service, which enables all of Lenovo’s data management offerings to be consumed via a pay-as-you-go model

Kotak & Indian Dental Association Conduct Oral Cancer Screening at Navi Mumbai’s APMC

otak Mahindra Bank

Mumbai, 30 March 2023: Under Kotak Mahindra Bank’s (“KMBL” / “Bank”) Corporate Social Responsibility initiative, the Bank in association with the Indian Dental Association (IDA) organised oral cancer screening health camp at the Agricultural Produce Market Committee (APMC) in Vashi – one of the biggest markets in Navi Mumbai, Maharashtra. The five-day free camp, which was held from 27th February to 3rd March 2023, screened over 2,600 shop owners, transporters, and daily wagers, raising awareness on oral health and, early detection and prevention of oral cancer.

Identifying local stakeholders as a highly vulnerable group due to the consumption of various forms of tobacco, the initiative focused on APMC which hosts and sees a steady traffic of local workers throughout the day. A team of dental professionals from IDA conducted thorough examinations to detect any signs of oral cancer and also provided advice on oral health.

B.S. Sivakumar, President & Business Head – of Agri-Business Group and Key Leadership Team member, of Kotak Mahindra Bank, said, “We always strive to address health and socio-economic challenges at the grass root level. The Oral Cancer screening initiative is yet another effort to further our CSR initiatives to relevant stakeholders for the Bank while expressing gratitude to the segments that continue to be the lifeline of Indian society at large. Through this CSR initiative, in association with IDA, we want to make healthcare accessible to all stakeholders in the market yards who work hard to ensure the smooth movement of agricultural produce from the farms to our homes.”

Dr. Ashok Dhoble: Hon. Secretary General of, the Indian Dental Association (IDA) said, “Our vision is to improve oral health and quality of life which is more often ignored or paid negligible attention. We are happy to be associated with Kotak Mahindra Bank Limited which is committed to eradicating health diseases such as oral cancer. Through such initiatives, we are able to build awareness about the hazards of tobacco consumption in larger numbers and especially among highly vulnerable groups in society such as local workers and daily wagers.”

Kotak Karma is the Corporate Social Responsibility (CSR) identity of the Kotak Mahindra Group. KMBL implements its CSR projects on healthcare including but not limited to improving access to healthcare facilities by providing ambulances, critical care ambulances, mobile health units, etc. either directly and/or through implementing partner organizations working in the healthcare and sanitation space.

Mr. Harpreet Singh Malhotra wins Business Leader of the Year Award at Northern India Multimodal Logistics Awards

Mr. Harpreet Singh

Mr. Harpreet Singh Malhotra, the Chairman & Managing Director of Tiger Logistics was conferred the prestigious Business Leader of the Year Award at the Northern India Multimodal Logistics Awards, which was held at The Lalit in New Delhi in concurrence with Conquest 2023.
The event brought together industry leaders to recognize outstanding performance among companies and individuals in over 30 categories, including top performers, leaders, and trendsetters in the logistics and maritime industry. The award was selected by an illustrious jury comprising some of the leading lights of the industry.

“I am truly humbled to have received this award and I’m thankful to my team, industry colleagues in India and globally as well as our stakeholders for the constant support throughout my journey.” Mr Harpreet Singh Malhotra, CMD Tiger Logistics said.

The theme of Conquest 2023 was ‘New Developments in Cargo Connectivity & Logistics Infrastructure in North India’, based on which the significant discussion points were: DFC the game changer in freight movement; the emergence of digital platforms in freight & logistics services; how lines are better facilitating the North India trade; new trends in ICD operations in North India; the impact of National Logistics Policy – how physical infrastructure and digitisation complement each other; overview of LCL consolidation in the region; the impact of digitisation in shipping and logistics; the need for LSPs to change and adapt; and the key concerns and value-adds for shippers.

Mr. Harpreet Singh Malhotra, CMD, Tiger Logistics (India) Ltd, in his keynote address at Conquest 2023 expressed “The importance of digitalization is critical in the logistics sector to bring in transparency, seamlessness, and visibility in the global movement of goods. We also need faster adoption of digitalization on the customer side. I laud the Government initiatives & policies like PM Gati Shakti, NLP & ULIP which is set to play an integral role in the sector’s transition.”

Mr. Malhotra is a first-generation entrepreneur who founded Tiger Logistics in 2000. Prior to this, he gained valuable experience working in various capacities in the logistics and supply chain industry. He is a Commerce graduate from Delhi University and has completed specialized courses in Foreign Trade from IIFT, New Delhi. Under his leadership, Tiger Logistics became one of the youngest and the 9th logistics company to go public in 2013. As of FY 21-22, the company has a turnover of 617 crores with positive year-on-year growth.

Schneider Electric appoints Deepak Sharma as Zone President Greater India, MD & CEO, SEIPL

Deepak SharmaMumbai, March 30th, 2023: Schneider Electric, the leader in the digital transformation of energy management and next-gen automation solutions, has announced the appointment of Mr. Deepak Sharma as Zone President – Greater India and MD & CEO, SEIPL effective 1st May 2023. Deepak Sharma will take over from Mr. Anil Chaudhry.

Deepak has 30 years of experience with ~ 24 years at Schneider Electric handling diverse roles based out of India, France, China, and the USA across Energy Management & Industrial Automation businesses. In his previous role, Mr. Sharma led the integration of L&T Electrical and Automation Business with Schneider Electric, as SVP, Mergers & Acquisition. This integration was a key enabler in making India as one of the four global hubs of Schneider Electric with ~ 34500 employees and 30+ factories.

Mr. Anil Chaudhry spent 10+ years as Zone President – Greater India, Schneider Electric, MD & CEO, SEIPL. He will relocate to France to take over a new Global leadership role within Schneider Electric Group.

Speaking on this occasion, Mr. Anil Chaudhry says, “My stint as the Zone President of Greater India Zone has been extremely satisfying. In the past decade, we have consistently grown within the Schneider Electric group and outside. I am also extremely proud to position Schneider Electric as an important partner for Smart infrastructure growth, Skill India, Digital India, and societal work done with the Access to Energy program, benefitting millions of Indians. I wish Deepak Sharma good luck in his new role of making India more electric. more digital and more sustainable.”

Speaking on his appointment, Mr. Deepak Sharma says, “I am excited to be designated as the Zone President – Greater India and MD & CEO, SEIPL. Schneider Electric is committed to the growth of India through investments in R&D, innovation, manufacturing, and talent development. We are one of the most local, amongst global companies, with an augmenting footprint in the country. In my new role, I look forward to scaling up our capabilities and accelerating our contribution toward making India more digital and sustainable during Amrit Kaal. With India taking decisive steps towards becoming climate positive, I foresee enhanced collaboration and partnerships with the Governments, Public and Private enterprises in their sustainability and digitization journeys.”

He has graduate and postgraduate degrees and diplomas in management and Electrical Engineering. He is successfully trained through executive education programs of IIM-Ahmedabad, INSEAD France, and UNC Kenan-Flagler Business School, USA.

Fantasy Gaming App Super4 launches campaign #IndiaJeetega ahead of IPL 2023

Super4

India, 30th March 2023: Super4, ‘India Ka Apna Gaming App’ and a growing player in the fantasy gaming sector, has announced today the launch of their #IPL2023 contest for the existing and prospective customers in light of the upcoming 16th edition of the TATA IPL 2023. The Super4 IPL 2023 carnival is scheduled to run from 1st April to 15th May 2023.

Super4, a leader in the fantasy gaming sector, will provide existing and new users with a unique platform to play and earn through their Super4 app. The Super4 IPL bonanza will have two offers, the first one running from 1st to 7th April where the user will be given a chance to participate in contests for free and yet have the opportunity to earn huge cash rewards.

The second contest starting from 1st April for the next 45 days will give the existing as well as the new users to play contests and collect super coins. All users that earn 1 lac super coins during these 45 days will be given a once-in-a-lifetime opportunity to attend IPL Eliminator rounds or IPL Semi-finals for free.

The “India Jeetega” campaign aims to encourage fans to support their favorite teams while promoting a spirit of sportsmanship and camaraderie among all. With the IPL set to start on March 31st, 2023, the campaign is poised to capture the nation’s imagination and bring everyone together in celebration.

Mr. Rohit Bansal, Founder, Super4 said, “We are excited to come up with our IPL23 contests to attract users and give them a once in a lifetime opportunity to attend the IPL Eliminators and Semi-Finals. Cricket is a religion in India and we strongly believe that through these contests, we will be able to fulfill a cricket fan’s dream to watch a match live in the stadium. We at Super4 are very excited for the upcoming season and we will do our best to help the fans and enthusiasts with the best possible gaming experience”

Seeing the growth and passion for cricket in India, Super4 plans to penetrate further into the Tier II & Tier III markets and give a once in a lifetime opportunity to fans and enthusiasts in these markets to watch a match live. Something that they could just dream of, could be possible with a click on the Super4 App. The brand offers unutilized money on a collection of super coins. The players can utilize this money to play games on the platform.

Within a short span of six months, Super4 has managed to grow exponentially and with a user base of over 5 lac customers, the brand plans to expand its footprints in India by acquiring customers and bringing out new and interesting online games on their Super4 2.0 applications for the fans and enthusiasts across India.

The Super4 app allows cricket fans and enthusiasts in India to create teams before a match starts, but it sets itself apart by providing India’s first-ever cricket scoreboard. Fans can earn points by creating their own scoreboard for the first innings before a match starts. At the end of the match, the players win prizes according to their ranks on the leaderboard.

87.57% of Mumbai people tested have elevated levels of homocysteine in blood: Tata 1mg Labs

Mumbai, 30th March 2023: India accounts for about 60% of the global heart disease cases despite having less than 20% of the global population, according to public health estimates. Not just this, high rates of obesity and high blood pressure among younger people are putting them at risk for heart disease earlier in life – 50% of all heart attacks in Indian men occur under 50 years of age and 25% of all heart attacks in Indian men occur under 40 years of age. Indian women have high mortality rates from heart disease too.*

Unhealthy lifestyle practices, physical inactivity, obesity, and smoking are leading causes for young Indians falling prey to heart conditions. Coronary risks can be identified by a variety of risk markers – prevalence of diabetes, hypertension and high levels of cholesterol are commonly used cardiac risk markers. However, most people would not be aware about another independent risk factor for heart disease, high homocysteine levels in the blood.

Explaining the relevance of homocysteine test, Dr Sameer Gupta, a US board certified Interventional Cardiologist and Head of Cardiology for the Metro Group of Hospitals, shared, “Hyperhomocysteinemia is considered an independent risk marker for atherosclerotic vascular disease and venous thromboembolism or blood clots. But it is important to interpret the numbers in correlation with the patient profile and other risk factors. Increased levels of homocysteine are often secondary to nutritional inadequacy of folic acid and vitamin B12. It can be corrected with either supplements or a diet rich in fruits, vegetables, and low-fat dairy products.”

An analysis of data recently published by Tata 1mg Labs from about 4609 homocysteine tests conducted across its Mumbai testing facilities in the last two years, indicates that 87.57% of people in Mumbai have higher-than-normal levels of homocysteine in their bloodstream, making them vulnerable to heart diseases, such as blood clots, heart attack and stroke.

Interestingly, females fared much better than males in the test. While 62.93% of men were found with escalated levels of homocysteine, this figure was much lower for women at 36.84%

The below-25-year age group had the lowest incidence at 3.05% but rapidly climbed in the age bracket of 25-40 years at 30.48%. This was followed by age groups of 40–60 years (about 44%), above 60 years (17.52%).

Dr. Gupta cautions that, “Though a high level of homocysteine in the blood is a marker for increased risk, we do not have clear data that interventions to lower homocysteine will reduce the risk or heart disease.” If you have high homocysteine levels, your doctor may recommend taking vitamin B12, B6 or folate supplements. It is important to note that increasing your vitamin intake alone does not decrease the risk of heart disease, lifestyle corrections like smoking cessation, staying physically active, and managing your medical conditions hold crucial significance.

Dr Prashant Nag, Clinical Head, Tata 1mg Labs, shared “A homocysteine test may be ordered when your doctor suspects that you may have a vitamin B12 and/or folate deficiency. It can also be ordered as part of assessing the risk of heart disease, or after a heart attack or stroke to help guide treatment. This test can be particularly useful for someone with a family history of coronary artery disease.” He adds, “While most labs consider normal homocysteine levels in the blood between 4 and 15 micromoles/liter (µmol/L), any value above 15 is reported high. Excessive homocysteine levels, generally a level above 50 µmol/L, may damage the lining of your arteries (blood vessels that carry oxygen-rich blood and nutrients throughout your body). It can also cause blood clots or artery blockages. Any clots or damage in arteries significantly increase the risk of heart attack.”

It goes without saying that regular screening for risk factors and early detection of heart conditions is crucial to providing timely treatment and improving health outcomes. It would be prudent for every young adult not to relate heart disease with aging and be cognizant. Whether you are in a sedentary desk job or just started on highly intense exercise or gymming or marathons, do get regular heart health evaluations.

Total number of tests conducted in Mumbai 4609
Total incidence (high / low / normal) high – 4036
low – 0
normal – 573
Incidence below 25 high – 123
low – 0
normal – 29
Incidence 25-40 high – 1230
low – 0
normal – 183
Incidence 40-60 high – 1776
low – 0
normal – 231
Incidence 60+ high – 907
low – 0
normal – 130
Incidence in terms of males high – 2540
low – 0
normal – 139
Incidence in terms of females high – 1487
low – 0
normal – 434

Source:
* Why Indians? Why South Asians? Indian Heart Association.

About Tata 1mg

Tata 1mg is India’s largest Digital Health Platform. The company has scaled up rapidly since 2015 to become India’s #1 Digital Health Company, commanding the leading share of the time spent in the Digital Healthcare category with over 40 million monthly unique users and 500 million monthly page views. 1mg started with a simple vision of making healthcare Affordable, Accessible & Understandable. Tata 1mg operates India’s largest platform comprising e-pharmacy, e-diagnostics, and e-consult services. Tata 1mg is the only company in India operating with a Legit Script & ISO certification for its e-pharmacy lines as well NABL accreditation for its Diagnostics business. In 2021, Tata Digital acquired a majority stake in 1mg, and the company was rebranded as Tata 1mg.

Tata 1mg labs are currently present in Delhi NCR, Mumbai, Pune, Bangalore, Kolkata, Hyderabad, Chennai, Lucknow, Ahmedabad and Dehradun. These state-of-the-art diagnostic labs operated by expert pathologists and microbiologists ensure 100% accurate and fast delivery of reports. The company has a dedicated fleet of trained and fully vaccinated phlebotomists and offers safe home sample collection in more than 50 cities in India.

Academy Of Fashion & Art (Afa) Announce Admission For Nata 2023

The Academy of Fashion & Art (AFA) is inviting Online/ Offline applications from candidates for admission to the National Aptitude Test in Architecture (NATA) for the year 2023. AFA delivers programs that provide students with quality coaching for Design Entrance Exams across India.

Eligibility

No candidate shall be admitted to an architecture course unless he has passed an examination at the end of the 10+2 scheme of examination with at least 50 percent. Aggregate marks in Physics, Chemistry, and Mathematics and also at least 50 percent. Marks in aggregate of the 10+2 level examination or passed the 10+3 Diploma Examination with Mathematics as a compulsory subject with at least 50 percent marks in aggregate.

The Course Academy of Fashion & Art offers various courses for NIFT/NID/NATA/JEE B ARCH/BFA Entrance Preparation for DAT- Design Aptitude tests, GAT-General Aptitude Tests, NIFT Situation Test/Studio Test, NID MAINS, Group Discussion, Interview, Portfolio Preparation.

The preparation includes Weekday/Weekend – Online/Offline classes, Summer Crash Courses, Winter Crash Courses, 10 Days Express Courses, AFA Special Courses, and Test Series. Do join exclusive crash courses for JEE BARCh/NATA preparation now.

Artha India Ventures announces its 3rd investment in the African continent…

Artha India Ventures announces its 3rd investment in the African continent; backs Kenya-based mobility marketplace startups BuuPass

Mumbai, March 2023: Kenya-based B2B2C mobility marketplace BuuPass has raised $1.30 million in a pre-seed round led by Founders Factory Africa. The round also saw participation from Google Black Founders Fund, Gullit VC, Five35 VC, Artha India Ventures, FrontEnd Ventures, Adaverse, Renew Capital, Changecom, XA Network, Ajim Capital, and Daba Finance. Funds raised will get used for expanding into East African markets with a special focus on Kenya and Uganda since the Company aims to increase its market share in these markets. This is the first institutional round raised by BuuPass, which previously received $1 million in grants from Bill Clinton-backed Hult Prize.

Sonia Kabra, Co-founder, and Co-CEO, BuuPass, says, “Coming from a small town in India, traveling to larger cities meant long queues and endless wait times for buses or trains. Witnessing the impact of online travel-booking platforms like redBus and IRCTC, I co-founded BuuPass to build the digital infrastructure for transport in Africa. With the support of our investors, we’re thrilled to scale our product and expand our reach, making transportation more seamless and accessible. This funding will enable us to expand our footprint in Kenya and Uganda. Our goal is to create a comprehensive continent-wide network of interconnected transport that make traveling hassle-free for all.”

BuuPass_Founder's Picture_ Wyclife Omondi &Sonia Kabra

Founded in 2016, BuuPass follows a B2B2C approach and provides fleet owners with a full-stack bus management system (‘BMS’) for managing their operations, inventory, and sales. The BMS also includes a point-of-sale solution to capture bookings and provides access to a parcel management module. BuuPass helps customers search, compare and book their tickets across different channels through their marketplace, like websites, apps, and USSD codes.

Anirudh A Damani, Director of Artha India Ventures, says, “The African continent is fast emerging as a startup innovation hotbed. The African ecosystem is churning out many unique investment opportunities that will disrupt the market across sectors. Artha India Ventures is taking an early bet to back potential category winners with immense promise. In that vein, BuuPass has taken the lead in building digital rails for Africa’s intercity transport infrastructure. Based on Artha’s success in navigating this digitization play in India, we are confident that BuuPass will grow rapidly into a market leader.”

BuuPass has over 1,200 vehicles registered on its platform from over 25 bus companies. Through its partnership with Safaricom (or M-Pesa), the Company is the sole technology provider for online railway ticket booking in Kenya and generated a GMV of $30 million in CY 2022. It currently processes ~12,000 transactions daily.

Wyclife Omondi, Co-Founder & Co-CEO, BuuPass, says, “Over 9 million travelers have saved time and money by buying their tickets from the comfort of their homes. Additionally, our bus operators have seen a significant decrease in cash leakages and increased revenue from online bookings. 80% of our clients come through referrals, demonstrating that our focus on customer satisfaction is yielding fruit. We can customize the technology for most businesses, give on-demand support, and provide USSD functionality.”

Mr. Akshay Grover, Group CEO of Cellulant and potential payments partner for BuuPass said, “At Cellulant, I have seen the importance of building digital infrastructure to empower and grow businesses. Therefore, the opportunity to invest in a company like BuuPass, which is digitizing the $40 billion intercity transport industry, was super exciting. Both Sonia and Wyclife are outstanding founders with an excellent track record of execution, and together, we can build strong partnerships within the African ecosystem. Further, I am delighted to partner with Artha in our second investment in Africa.”

Simpl joins hands with Klub to enable easy credit access for the fast growing D2C ecosystem in India

Simpl logo

Mumbai, March 30th, 2023: Simpl, India’s foremost one-tap checkout platform, today announced its partnership with Klub, a leading Revenue Based Finance company, to provide easy access to credit for the Direct-to-Customer (D2C) merchants and support them in meeting their working capital requirements. This partnership will enable credit access to merchants at affordable interest rates with flexible terms in a complete digital fashion.

Simpl aims to tackle a significant challenge faced by D2C merchants experiencing hyper-growth by including capital-as-a-service in its booster package for partner merchants. This initiative will enable long-term value creation and help resolve a major pain point for many digitally native companies in India. With this partnership, Simpl is also expanding its ‘Booster Package’ which provides exclusive access to services from various D2C enablers such as brand building, credit access, digital marketing and e-commerce consulting that helps boost business. These initiatives are aimed at creating a trusted ecosystem of D2C merchants that offer their customers high-quality products and a seamless payment experience.

According to the “Beyond E-commerce 3.0” report by Kalaari Capital, at least 50 million new users have been added to the Indian e-commerce platforms over the last two years as a result of the pandemic’s rapid digitisation. Along with this, India is anticipated to have 1.1 billion internet users by 2025, with 30% of them engaging in online shopping. This opens up a huge opportunity for D2C merchants that are expected to generate $50 billion in sales by 2025 and therefore, becomes imperative to support them on multiple fronts including credit access, discoverability and seamless payments and Simpl aims to be at the forefront of enabling this change.

Commenting on the partnership, Nitya Sharma, Co-founder and CEO of Simpl said, “As an organisation committed to developing the D2C merchant ecosystem in India, we are constantly striving to come up with innovative ways to solve the problem statements faced by the community. In this endeavour, we are delighted to announce the expansion of our Booster Package to provide credit access to the D2C community in partnership with Klub to support them in their working capital requirements. This is in continuation of our efforts to boost the D2C ecosystem in India and emerge as a preferred partner for the fast growing community in establishing their businesses”.

“At Klub, we’re revolutionising the way platforms offer financing to their merchants. Our innovative embedded capital product is a plug ‘n play lending solution that seamlessly integrates with our partners’ platforms. We are excited to partner Simpl in offering quick and flexible financing options to its growing community of D2C merchants to support them in meeting their growing business requirements. And with a range of capital partners to choose from, including banks, NBFCs, and our own credit fund, we ensure that merchants get the best possible financing solutions. We’re excited to be at the forefront of this change and to empower platforms to unlock the full potential of their merchant ecosystems,” said Anurakt Jain, Co-founder and CEO at Klub. As part of its efforts to support the D2C ecosystem, Klub aims to disburse loans worth Rs 200 crore over the next six months to small businesses across the country.

The D2C ecosystem in India is witnessing rapid growth due to the growing affinity of merchants towards building a unique customer experience, growing beyond the e-commerce marketplaces to have market access and build a direct relationship with the end customers. To enable this, the creation of an entire digital value chain including payment infrastructure becomes important to offer a seamless experience to millions of customers.